In the past 24 hours, the cryptocurrency market has experienced significant volatility, resulting in substantial liquidations across various exchanges. Approximately 186,000 traders were liquidated, with total liquidations amounting to $524.8 million. (The Block)
Bitcoin (BTC) and Ethereum (ETH) were among the most affected cryptocurrencies. Bitcoin's price declined to around $92,500, contributing to liquidations exceeding $464 million. +CryptoSlate+
Ethereum also faced significant liquidations, with approximately $86.43 million cleared, including $44.76 million from long positions and $41.67 million from short positions.
The majority of these liquidations occurred on major exchanges, with Binance leading at $202.02 million, followed by OKX with $140.33 million, and Bybit at $91.99 million.(Investing.com)
This wave of liquidations underscores the inherent volatility of the cryptocurrency market, emphasizing the importance of risk management strategies for traders and investors.